A branch of Banque BEMO Saudi Fransi in Syria. (Credit: Banque BEMO Saudi Fransi's website)
Following U.S. President Donald Trump’s announcement on May 13 of the lifting of sanctions under the Caesar Act, Syria is preparing to rejoin the international banking networks SWIFT and IBAN.Enacted in 2019, the law aimed to isolate the regime of Bashar al-Assad militarily, economically and diplomatically, by preventing it from strengthening its military operations or engaging in activities that would contribute to Syria’s reconstruction. More on this How Lebanon could benefit from the lifting of Caesar Act sanctions “The lifting of sanctions will allow banks operating in Syria to reestablish relationships with correspondent banks and once again be able to receive and send money transfers to and from abroad,” said Nassib Ghobril, head of the research department at Byblos Bank. These positive effects could also be felt in...
Following U.S. President Donald Trump’s announcement on May 13 of the lifting of sanctions under the Caesar Act, Syria is preparing to rejoin the international banking networks SWIFT and IBAN.Enacted in 2019, the law aimed to isolate the regime of Bashar al-Assad militarily, economically and diplomatically, by preventing it from strengthening its military operations or engaging in activities that would contribute to Syria’s reconstruction. More on this How Lebanon could benefit from the lifting of Caesar Act sanctions “The lifting of sanctions will allow banks operating in Syria to reestablish relationships with correspondent banks and once again be able to receive and send money transfers to and from abroad,” said Nassib Ghobril, head of the research department at Byblos Bank. These positive effects could also be felt in...
